In the June quarter, the air-conditioning major reported a consolidated net profit of ₹122 crore, up 49% YoY. This strong profit growth was led by a 38% rise in revenue from operations to ₹1,785 crore.
The company’s air-conditioner business was impacted due to lockdown especially during the peak summer season. Hence its growth was stunted to 10%. However, it's other business division called the electro-mechanical projects grew 67% and drove the overall revenue growth. Despite the strong results, shares of the company closed flat today.